In the mobile app world, change is a constant. However, not even top industry experts could have foreseen the changes that have happened this year. Will the second half of 2020 follow the same course? It’s safe to say that there will continue to be volatility, some fluctuating verticals and social commerce expansion. But what hasn’t been seen in the new Covid-19 reality?
During these times, many people have turned to productivity apps that have allowed them to buy things that they used to make special trips for in the past. For example: the Nespresso app. Prior to being on a stay-at-home order, someone might have gone out of the way to buy coffee in person at the Nespresso boutique store. Destination shopping may be undergoing changes it will never recover from. Sure, there will probably be a resurgence as people try to return to old habits, but the impact of the stay-at-home orders on anchor stores is highly likely to lead to an onslaught of bankruptcies. Thus, specialty retailers with boutiques at major malls could be facing an uphill battle.
Specialty Retail Shopping Apps Could Rule Q4
Shopping apps are already some of the rulers of the market, but specialty retail apps could duke it out with major players during Q4 — and drive ranking fluctuations in app stores. These retailers, which include GOAT, Fashion Nova, SHEIN and Jane, can often create more robust and specific brand experiences than Amazon, Walmart and other major retailers do. Therefore, they have a chance to really drive diversification into the mobile shopping experience and dollar share. Those with highly exclusive distribution, coupled with highly desirable products, could dominate.
Contact less Payment Apps Could Continue To Rise
As we all continue to avoid touching door handles, shopping carts and touch screens, contact less payment apps have reportedly been reaping the benefits, and major players will start to aggressively vie for those transactions and associated fees. Take China, for instance. An overwhelming number of people use WeChat Pay and AliPay — both of which allow for contact less payment via QR code scanning, which requires little extra setup on your mobile device. Similar functionality exists in apps such as Venmo, Square and PayPal. As we return to various activities, we’ll see more and more of this — and the top players will take notice and compete for users. It is expected to see a large Q4 push as the holiday shopping season kicks into full swing. The real question is: How much longer will physical cash continue to exist?
Remote Learning Platforms Could Take The Next Leap
For people who have children, remote learning has suddenly become very important (and confusing). By the end of 2020, ther could be a handful of players that emerge in remote learning, or learning management systems (LMS), with apps across multiple devices. There are already a number of companies in this area, including Schoology and Blackboard, but the sudden appetite and need for these types of apps could drive both fierce competition for users and innovation in technology. Will distributed app sets start to work in tandem (like Google Classroom and Meet), or apps that are totally inclusive of all needs and are agnostic to third-party integrations? Who will conquer the key areas of student engagement, equal access and students with special needs? Who will get it right for all teachers, students and parents? The race is on.The contenders will be Google, Schoology, Canvas and Blackboard. How will they market and gain traction and users? Will parents and PTO organizations lobby for certain apps, or will school districts have their say? It will be interesting to watch how these platforms evolve over the next school year.
It is exciting to see how the mobile app industry will continue to evolve and change in the coming months and into 2021. As always, the opportunity for innovation, the rapid rise of new players and the demands of users could drive constant change for the industry.
Article Provided By: Forbes
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